Hmmm? Also, is it just me or does the school of pipsology ever explain a Little too much? It’s great that it’s free, but maybe it’s just the fact that since I donated A small amount I feel entitled?
I suck at Math. But I find that using tools like the calculators here make numbers for trading a bit more manageable. Here’s also a thread from long ago that I found about Math and trading.
For some people, yes.
For others, no.
It’s not really about “basic math” that much (though that can help a little).
It’s mostly about probability, specifically.
Some people, even those who are good at basic math, can’t think about things in terms of probability, and that’s a really big handicap for trading.
just look back at all the people with math degrees who couldn’t understand the Monty Hall paradox (and all the people whose grandchildren can and do understand it!)
You just need to know the basic math that’s needed for whatever way you trade. You can always brush up on that math while you’re learning to create your trading system.
Yeah. You might be getting a bit entitled there. The school of pipsology is giving us all the fundamentals we need to prevent us from getting scammed and blowing out our accounts.
In my opinion, the school isn’t explaining enough because people will still finish the school and go on to get scammed and blow out accounts, but that’s not the school’s fault. Are you gonna be one of those people?
It’s funny you feel that way because of what you said here:
Babypips went all out to give us this incredible resource to educate ourselves fully, know the ins and outs of the business like the back of our hand, and immerse ourselves in everything there is to know to become experts before we jump. I thought you would be someone who can appreciate this amazing opportunity.
Welcome to the forum, Michael Trismegistus. Cool last name. I love your enthusiasm. You’re off to a great start, but I’m wondering if you’ll still be around in a couple of years to really live up to being Thrice-greatest.
I have been trading for … too me … long time… I start doing it the easy the way. Hate me if you want . Open all the pairs .01 buy in 1 direction Sell in another Direction .01 …These Are Demo’s.
Trend Trading …Find the Pattern…The Reversals…In Day/Weekly Chart… Enough Analysis is done on the Pairs to Look to up. Increase Leverage each week. Set stop loss below Order blocks and T/P at order blocks.
You can Just open up the Pairs that are Trending JPY was a Perfect example for the week. Start Small.
It how I showed on Demo I grew $200 account to $600 account in 2 Weeks. Live account I do the same thing. You can see my My Proof Profit Thread…
I saw a video, I think it was with Mark Douglas. He said he has degrees in engineering and math, and yet none of it helps with successfully withdrawing profits from the market.
It seems that in the end, the main thing that helps with trading is patience/self-control.
Mark Douglas himself repeatedly made the point that you have to be able to “think in terms of probability,” (exactly as @Pipsteroid was saying above), and maybe he didn’t find that all that easy - i’ve certainly known people with math degrees who are not good at that, and people without them who are - surprising, perhaps?!
Math knowledge will definitely be helpful but not obligatory for forex trading specifically.
Sometimes I feel like if you’re a technical trader, you need to have artistry or a developed intuition.
Trading is like life, where science doesn’t give you all the answers.
Perhaps what separates some math guys is self control. A math degree might go out the window if your rent is due in 3 days, and one of your trades from the morning might cover it. You wait another hour, it’s still going up, and now you’ve got TWO months’ worth of rent from this trade. You could close, or you could go for three months rent.
You come back another hour later and your profits drop by 75%.
Math could get you in and out of a trade. But emotions could sabotage it all.
very true, this - and probably a far more common scenario than the kind of thing i was thinking of, above, where people “can do math” but just “can’t do probability”
Can you explain this a bit further, please? I kinda thought they’re the same…
i always thought so, too
(i am a maths graduate, long ago, and that was how i originally got into trading)
they are not the same thing at all!!
a few decades ago, Peter Swinnerton-Dyer (you can look him up!) once told me about a maths professor even more famous than he was himself, who did not understand “Bertrand’s paradox” (it’s a very, very simple probability puzzle) and did not even accept the answer until he had actually verified it himself by computer with a little program which he quickly wrote himself!!
I would tend to think the opposite, actually. The more you overthink trading, the worse you’re likely to perform.
Unless you’re building an indicator then where does math really fit into the equation? (Ahem)
Doesn’t matter that 10 + 6 = 17 in trading. Trading is mostly mechanical anyways. Most successful traders wait for their setups and pull the trigger and repeat that day in and day out.
The tough part is fighting that phycological urge to close the trade too soon. You will be the biggest battle you face.